The arrest of Nissan Motor chairman Carlos Ghosn on Monday stunned Japan and the wider business community, sending shares of Nissan and Renault plummeting.

Following a whistleblower report, the man widely seen as the most powerful figure in the automotive industry has been jailed in Japan along with an accomplice, representative director Greg Kelly, for allegedly underreporting compensation for a number of years.

Nissan said in a statement that it had uncovered...

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